CHRISTMAS has come early for millions of shoppers as a feverish yuletide price war erupts online and on the high street, with unseasonably massive discounts for bargain hunters.

This year's Christmas promises the best deals shoppers have had in over three decades (Image: Getty)

The winter gloves have well and truly come off as stores large and small battle frantically to persuade Brexit-wary shoppers to throw caution to the wind.

A survey of prices shows there is a no-holds-barred approach to everything from Christmas foods to expensive electronics and clothes.

A browse through House of Fraser suggests they have already started their New Year sale. The price of a Samonsite Askella suitcase has been halved to £110. A Karen Millen coat has dropped 43 per cent, from £265 to £150.

At Waitrose the price of a Heston Golden Delicious Christmas pudding has been cut from £14.00 to £11.20.

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Majestic's Bollinger champagne was £45.99 a bottle but can now be snapped up for £34.99, a saving of 24 per cent.

Everything from sprouts to Christmas party dresses has come down in price, promising perhaps the best deals shoppers have had for three decades.

John Lewis executives have warned of a perfect storm of battered consumer confidence and a huge oversupply of products to high street and online businesses.

This weekend will decide the winners and losers with an estimated £3.5billion due to be spent over the two days. Online sales are expected to peak on "Frenzied Friday" as 7.2 million shoppers spend £321million on last-minute gifts.

"Super Saturday" on the high street is expected to generate £1.38billion as more than ten million shoppers splash out on gifts and festive food.

The best deals available in shops this Christmas (Image: Nc)

Almost five million others will be frantically shopping online, spending up to an estimated £280million.

The long-awaited stampede should be a fillip after a disappointing weekend for stores with gales, snow and freezing rain brought by Storm Deirdre being blamed.

The high street has been hit hard this year as big companies entered administration including House of Fraser and Evans Cycles, which were both bought by Sports Direct tycoon Mike Ashley.

Names such as Toys R Us UK, Poundworld and electronic retailer Maplin also fell into administration, while fashion chain New Look, Marks & Spencer, Debenhams and Laura Ashley all announced store closures.